For Your Benefit

May 24, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Bob Stacy.  Retirement is about new beginnings, reinvention, and the next chapter of life.

How do you know it’s time?

The question – To work or not to work

MPS – What does this mean?

Importance of social activities

How to stay connected to others

Send in a question:  Email us in advance at [email protected]

May 17, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc., and Mike Causey, Senior Correspondent at Federal News Network.

This topic has become more complicated for employees retiring under the three-tiered FERS retirement system that includes Social Security, the FERS Basic Benefit (government pension) and the Thrift Savings Plan.

Today’s program will focus on the “best dates” to separate from Federal service under CSRS and FERS, and will also address the questions that are on many employee’s minds:

Has the COVID-19 Pandemic impacted your plans to retire?

Are you thinking about retiring sooner than later or are you staying on board longer?

Learn how to prepare for delays in retirement processing that have occurred throughout the retirement planning process.

How do you know it’s “time” for retirement?

How do you choose the best date for you?

What else should you do to prepare to retire?

The discussion may also include the following related topics:

What are the mental, financial, Federal benefits and tax preparations that need to be done before selecting your date?

What are your plans for your life after retirement?

Can you afford to be retired to age 99?

Have you done your retirement tax planning?

Do you understand the withholdings, reductions and computation of your CSRS and FERS retirement benefit?

How do you select the best date to retire under FERS and CSRS?

The last day of the month for FERS, CSRS and CSRS Offset optional retirements

The first three days of the month for CSRS and CSRS Offset

Why not any other day of the month?

What about disability, early retirements and deferred retirements?

What is so special about the end of the leave year?

What happens to your leftover annual and sick leave at retirement?

What about your Thrift Savings Plan?

What is the best time to “turn on” your Social Security retirement?

What if you are working past your full retirement age?

Do you plan to work after you retire?

Are you retiring under age 62?

Will you receive a CSRS retirement benefit? Consider the Windfall Elimination Provision and the Government Pension Offset.

Send in a question: Email us in advance at [email protected]

May 10, 2021 on ForYourBenefit, host Bob Leins, CPA® and co-host John Elliott welcome John Jilek, CFP®.

The Basics: Roth IRA vs. Traditional IRA

The Advanced: Roth TSP vs. Pre-Tax TSP

Potential and actual tax law changes that may affect your decisions

The decision to not have some Roth money available in retirement could be a significant issue

Impact of Secure Act on beneficiaries of retirement accounts

Send in a question:  Email us in advance at [email protected]

May 3, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Bob Braunstein, Federal Benefits Specialist. There are approximately 132,000 full-time Law Enforcement Officers in the Federal government. Today’s program is dedicated to answering questions for Law Enforcement Officers, Firefighters, and Air Traffic Controllers, such as:

What kind of retirement qualifications must I meet?

How will my benefits be calculated?

Why is my retirement mandatory at age 57?

If I do not want to retire at 57, do I have any options?

If I have my 25 years of service (including the 20 qualifying special occupation years) before age 50, can I retire?

Are there other benefits associated with these enhanced retirements?

Are there any consequences to my retirement annuity if I come back to work for the government?

I understand I qualify for a FERS annuity supplement and that the rules are different LEOs? Please explain what the differences are?

How about cost of living adjustments? Once I retire, do I have to wait until I am 62 years of age to receive them?

Can I retire from a non-LEO position and still get the special retirement formula?

Send in a question: Email us in advance at [email protected]

April 26, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Brian Kurrus, CFP®.

What income will you need in retirement?

Evaluating income sources.

Which investments should you access first?

How reliant will you be on your assets?

How to plan for the unexpected.

Send in a question:  Email us in advance at [email protected]

April 19, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Joel Cundick, CFP®.  All good financial plans start with clear goals.

What are the critical elements of a well-articulated goal?

What are time horizons, and how are they appropriately incorporated into good planning?

How can time horizons naturally point to appropriate investment strategies?

How can Federal employees use time horizons to retirement to properly allocate their TSP accounts?

Are rules of thumb the best way to evaluate where you stand on saving for retirement, or is there a better approach?

Send in a question:  Email us in advance at [email protected]

April 12, 2021 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc., welcome Kim Weaver, Director, External Affairs, and Jim Courtney, Director of the Office of Communications and Education, Federal Retirement Thrift Investment Board.

Today’s discussion will focus on answering the following questions:

The new L Funds went live last summer – how have participants responded?

The TSP changed the way catch-up contributions are made.  What did you do and why?

Congress passed the CARES Act last year.  What did the TSP do and did participants use those options?

The country has been dealing with the pandemic for over a year now – did that impact the TSP or its participants?

Stats!  How many participants receive the 5% match?  How many millionaires?  Average account balances?

What were the administrative expenses for 2020?

Send in a question:  Email us in advance at [email protected]

April 5, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Ray Kirk, Ph.D., Federal Benefits Specialist, for a discussion of financial literacy.

The definition of financial literacy and the basic steps to becoming financially literate.

The big gap in most financial literacy education.

How to protect what you have.

How understanding the concepts of financial literacy can save you taxes and increase your income.

Send in a question:  Email us in advance at [email protected]

March 29, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Mr. David Santana from the Centers for Medicare and Medicaid Services.

Understand your Medicare coverage choices to maximize your benefits

Evaluate the cost of enrolling in Medicare and premium payments

Summarize the choices to make an informed Medicare enrollment decision

Social Security offices remain closed for in-person appointments—Find out the different ways to enroll in Medicare

Send in a question: Email us in advance at [email protected]

March 22, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes David Melton, Public Affairs Specialist, Social Security Administration, to answer frequently asked questions.

Are Social Security offices open?

What are mySocialSecurity accounts?

What should I do if I get a call claiming there is a problem with my Social Security number?

What is the Social Security retirement age?

When can I apply for Social Security?

How much Social Security will I get?

What are the Social Security wage limits for 2021?

Send in a question:  Email us in advance at [email protected]